Shipments ahead of expectations
· Exports in December were 10,027 tons compared to 8,924 tons last year an increase of 12%
· Exports year to date are 41,919 tons compared to 46,394 tons last year a decrease of 9.6%
Exports in December were once again ahead of expectations, and total shipments continue to close the gap with last years year to date tonnage. Average prices are now close to last years prices.
Roughly half of the crop has now been exported, and when taking domestic consumption into account the unshipped balance is roughly 35,000 to 40,000 tons.
We expect the crop to be sold by the time new crop is harvested with little or no carryover, as was the case in the previous 2 years.
Apricot raw material prices have increased 5 to 10 % over the past week with strong demand from a number of packers competing for limited supply in Malatya. Minimum wage increase has kicked in adding a further $100 per ton or so to costs.
Short supply is likely going to keep prices firm at least until we get through the bloom in April, and by then there will be little to no stock left, and we will see a tight transition to new crop regardless of prices and crop size.
Currently the weather is cold in Malatya and the trees are fully dormant.
The Lira has barely changed over the past month , and is currently 18.76 to the $.